Notices going out yet?
So Intel has something called corporate people movement(CPM). If you are impacted you will moved into CPM. You will have 9 weeks to find a job internally. If you don’t find 1 you take severance and exit. Currently they are asking people of some orgs who want to voluntarily enroll into CPM. Actual numbers will be mostly in January or February
The 20k reported is wrong, it is very less, somewhere around 6500. Engg teams are being withheld until the numbers add up. Only 2 orgs have been impacted for a total of 1600 techies. 2 more orga planning still. Not a huge impact if there is a shift in economics by Q1, there will be even Less. Just that the market has a very neg sentiment towards intel so everything is blown up.
Probably helps $INTC to let the rumors fly about bigger layoffs than actual.
Maybe, but intc has a lot of neg publicity out there, amd was dead in water for 8 years before it could make something competitive. Intel has had rough 4 years due to TD, not design. Once Intel catches up and very soon, tides will change. But again, Intel has to let some executives go, very bad management, peanuts of stupid work of estimation which they get wrong for millions!
No total defined yet. It is being managed by group. Groups are given spending targets not headcount targets, so some are trying to address through other spending cuts and less headcount reduction. This is why there is no all up number. And some groups are father along in the process than others. Some notices have started going out and some groups have shared specific numbers or percentages of cuts, others won't be communicating details and informing people until December or January.
Correct, intel is doing everything it can to not let people go in these times. Intel really values it's employees. However I will be honest, I think Christy has to go, all mumbo jumbo, no substance
Are you aware if intel will honor the offers they made to RCG?
Didn't Intel just get billions from the US government?
Yup. Bad look to offer up $30B and then layoff 10,000-20,000. They'll spin it that they'll hire 2,500 people, which is true, but terrible optics in the interim.
I heard numbers will be close 35k layoffs, that’s how many they hired in the past two years
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There's a search option in blind. Almost 4000.
What do you mean, can you elaborate?
It’s more than 4k for sure